Imperial Brands (IMB) Stock Rating Lowered by Royal Bank of Canada
Imperial Brands (LON:IMB) was downgraded by Royal Bank of Canada to an “underperform” rating in a research note issued to investors on Monday, Marketbeat.com reports. They presently have a GBX 2,400 ($30.96) target price on the stock, down from their prior target price of GBX 2,800 ($36.12). Royal Bank of Canada’s target price would indicate a potential downside of 11.93% from the stock’s current price.
Several other research analysts also recently commented on the company. Credit Suisse Group reaffirmed an “outperform” rating on shares of Imperial Brands in a research note on Thursday, August 23rd. Berenberg Bank decreased their price objective on Imperial Brands from GBX 3,765 ($48.57) to GBX 3,450 ($44.50) and set a “buy” rating on the stock in a research note on Friday, May 11th. JPMorgan Chase & Co. set a GBX 2,900 ($37.41) price objective on Imperial Brands and gave the stock a “neutral” rating in a research note on Tuesday, July 17th. Barclays reaffirmed an “overweight” rating and issued a GBX 3,350 ($43.21) price objective on shares of Imperial Brands in a research note on Tuesday, June 12th. Finally, Societe Generale set a GBX 3,200 ($41.28) price objective on Imperial Brands and gave the stock a “buy” rating in a research note on Tuesday, July 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of GBX 3,445.29 ($44.44).
LON IMB opened at GBX 2,725 ($35.15) on Monday. Imperial Brands has a 52 week low of GBX 2,447 ($31.57) and a 52 week high of GBX 3,956.50 ($51.04).
Imperial Brands PLC, together with its subsidiaries, manufactures, markets, and sells tobacco and tobacco-related products. It offers cigarettes, fine cut tobacco, papers, and cigars; smokeless tobacco, including snus; and e-vapour products. The company sells its products under the growth brands, such as Davidoff, Gauloises Blondes, JPS, West, Fine, News, Winston, Bastos, Lambert & Butler, and Parker & Simpson; and specialist brands consisting of blu, Gitanes, Kool, Golden Virginia, Drum, Route 66, Cohiba, Montecristo, Romeo Y Julieta, Backwoods, Skruf, and Rizla in approximately 160 countries worldwide.
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